Adventure Two S. A., established in Majuro, Xxxxxxxx Islands, Adventure Three S.A., established in Majuro, Xxxxxxxx Islands, Adventure Seven S.A., established in Majuro, Xxxxxxxx Islands, hereinafter (together and individually) referred to as “the Borrower”, and
Adventure Two S. A., established in Majuro, Marshall Islands, hereinafter referred to as 'the Borrower',
Adventure Two S. A. is the sole owner of the vessel known as the “Free Destiny” (the "Free Destiny"), free and clear of all Liens. The Free Destiny, (i) is a diesel motor vessel having 25,321 deadweight tons, 16,282 gross tons, official number 2077 built in Bulgaria, in 1982, (ii) has been documented in the name of Adventure Two S.A. under the name “Free Destiny” pursuant to the laws of the Republic of The Mxxxxxxx Islands, with its port of documentation at Majuro, Mxxxxxxx Islands, (iii) has been classified LRS + 100 A1 Bulkcarrier Class 3 in Lloyds Register of Shipping and, as of the date hereof, is in class without recommendation; and (iv) is covered by hull and machinery, war risk and protection and indemnity insurance; and
Adventure Two S. A., a company incorporated under the laws of the Xxxxxxxx Islands;
Adventure Two S. A. is the owner of the Free Destiny. As part of the security relating to the financing for the Free Destiny, Adventure is a party to a Pledge Agreement, pledging all of its shares of Adventure Two as security for the Note used to purchase the Free Destiny. SCHEDULE 3.3
Adventure Two S. A. Name of Insurer Type of Coverage Amount of Coverage(1) Premium(1) Expiration Date Hellenic War Risks War Risks 12/31/05 The American Club Protection & Indemnity 2/20/06 Wxxxxx Marine Risks 10/3/05 DSI Hull & Machinery 10/0/00 Xxxxxxxx Xxxxx Xxxx & Machinery 10/3/05 Adventure Three S.A. Name of Insurer Type of Coverage Amount of Coverage(1) Premium(1) Expiration Date Hellenic War Risks War Risks Hull 12/31/05 The American Club Protection & Indemnity 2/20/06 Wxxxxx Marine Risks 10/3/05 DSI Hull & Machinery 10/0/00 Xxxxxxxx Xxxxx Xxxx & Machinery 10/3/05
Adventure Two S. A. has good title to Free Destiny and is duly documented in the name of Adventure Two S.A. under the laws and flag of the Xxxxxxxx Islands;
Adventure Two S. A., established in Majuro, Mxxxxxxx Islands, hereinafter referred to as ‘the Borrower’,
Adventure Two S. A. has good title to Free Destiny and is duly documented in the name of Adventure Two S.A. under the laws and flag of the Xxxxxxxx Islands, and Adventure Two S.A. shall document the Free Destiny in its name under the laws and flag of Liberia on or about the Effective Date, such change in flag having been consented by the Lender;
Adventure Two S. A. Name TRUST COMPANY COMPLEX, AJELTAKE RD Place of registered office AJELTAKE ISLAND, MAJURO Law of registry XXXXXXXX ISLANDS
